2010-09-27 17:02 MT - Warrants
Called to Trade
TSX bulletin 2010-1118
Holders of Class A capital
shares (symbol: ABK.A) of
Allbanc Split Corp. of record at
the close of business (Toronto
time) on Oct. 1, 2010, will be
issued warrants, on the basis of
one warrant for each Class A
capital share held.

The Class A capital shares of
the company will commence
trading on an ex distribution
basis at the opening on Sept.
29, 2010, at which time up to
1,061,808 warrants will be
posted for trading on a
when-issued basis, under the
following trading information:

Each whole warrant entitles the
holder to purchase one unit at a
price of $62.78 per unit on or
before 5 p.m. (Toronto time) on
June 6, 2011. Each unit consists
of one Class A capital share and
one Class B preferred share
(symbol: ABK.PR.B) of the
company.

Additional information on the
warrant offering may be found in
the company's short-form
prospectus dated Sept. 22, 2010,
which is available at SEDAR.
Capitalized terms used but not
otherwise defined are as defined
in the prospectus.

The company utilizes the
book-based system administered
by CDS Clearing and Depository
Services Inc. with respect to
Class A capital shares,
preferred shares and warrants. A
holder of warrants may subscribe
for a whole number of units by
instructing the CDS participant
holding the subscriber's
warrants to exercise all or a
specified number of such
warrants and forwarding the
subscription price for each unit
subscribed for in accordance
with the terms of the offering
and the warrant indenture to the
CDS participant which holds the
subscriber's warrants. The
subscription price is payable in
Canadian funds by certified
cheque, bank draft or money
order drawn to the order of a
CDS participant, by direct debit
from the subscriber's brokerage
account or, by electronic funds
transfer or other similar
payment mechanism. All payments
must be forwarded to the
appropriate office of the CDS
participant. The entire
subscription price for units
subscribed for must be paid at
the time of subscription and
must be received by the warrant
agent prior to the date of the
exercise of the warrants.
Accordingly, a subscriber
subscribing through a CDS
participant must deliver its
payment and instructions
sufficiently in advance of the
expiry date to allow the CDS
participant to properly exercise
the warrants on such
subscriber's behalf. Units will
be issued on a fully paid basis
only. Class A capital shares and
preferred shares not issued
prior to the closing of the
record books on a distribution
record date will not be eligible
to receive the applicable
distribution. Holders of
warrants are encouraged to
contact their broker or other
CDS participants as each CDS
participant may have an earlier
cut-off time.

Each holder of warrants that
subscribes for units to which
such holder is entitled pursuant
to the basic subscription
privilege may, at any time
during the exercise period,
subscribe for additional units
pursuant to the additional
subscription privilege, if
applicable, at a price equal to
the subscription price for each
additional unit. Holders of
warrants will not be required to
fully exercise all of their
warrants under the basic
subscription privilege in order
to be eligible for the
additional subscription
privilege. To apply for
additional units under the
additional subscription
privilege, a beneficial holder
of warrants must forward their
request to a CDS participant.
Payment for additional units, in
the same manner as for units,
must accompany the request when
it is delivered to the CDS
participant. Payment in full of
the subscription price must be
received by the warrant agent
prior to 5 p.m. (Toronto time)
on the expiry date, failing
which the subscriber's
entitlement to such units will
terminate. Any excess funds will
be returned by mail or credited
to a subscriber's account with
its CDS participant, without
interest or deduction. Class A
capital shares and preferred
shares will be issued on a fully
paid basis only. Class A capital
shares and preferred shares not
issued prior to the closing of
the record books on a
distribution record date will
not be eligible to receive the
applicable distribution. Holders
of warrants are encouraged to
contact their broker or other
CDS participants as each CDS
participant may have an earlier
cut-off time.

The Class A capital shares and
preferred shares are not
registered under the 1933 act.
The offering is made in Canada
and not in the United States.
The offering is not, and under
no circumstances is to be
construed as, an offering of any
Class A capital shares and
preferred shares for sale in the
United States or an offering to
or for the account or benefit of
any U.S. person or a
solicitation therein of an offer
to buy any securities.
Accordingly, the warrants may
not be distributed to
shareholders located in the
United States, and no
subscriptions will be accepted
from any person, or their agent,
who appears to be, or who the
company has reason to believe
is, resident in the United
States.

It is expected that the CDS
participant will, prior to the
expiry date, attempt to sell for
the U.S. shareholders the
warrants allotable to such U.S.
shareholders at the price or
prices it determines in its
discretion. Any proceeds
received by the CDS participant
with respect to such warrants
are expected to be delivered by
the CDS participant as soon as
practicable to such U.S.
shareholders.

Shareholders whose recorded
addresses are outside of Canada,
other than the U.S.
shareholders, will be permitted
to subscribe for units pursuant
to the terms of the offering or,
if they do not wish to exercise
any of their warrants to
subscribe for units, will be
permitted to sell or otherwise
transfer their warrants through
a CDS participant provided that
they represent to the company
that the receipt by them of
warrants and the issuance to
them of Class A capital shares
and preferred shares upon the
exercise of the warrants will
not be in violation of the laws
of their jurisdiction of
residence.

As soon as practicable following
the exercise of a warrant, the
company will pay a fee of 94
cents per warrant exercised to
the CDS participant whose client
is exercising the warrant and a
fee of 63 cents per warrant
exercised to Scotia Capital Inc.
as dealer manager.

The warrants will be governed by
the terms of a warrant indenture
to be entered into on Oct. 1,
2010, between the company and
Computershare Trust Company of
Canada, as warrant agent. The
warrant indenture provides for
appropriate adjustments to the
warrants in the event of stock
dividends, subdivisions,
consolidations and other forms
of capital reorganization.